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DOWNMOVE CONTINUE

Nifty  slips down further losing 18 odd points and closing today's session at 5109.The broader stood negative with 491 advances to 979 declines.The market posted a gap down opening following  weak negative global cues.The day progresses with further slide down till the bounce from a support.As i said in my yesterdays post that markets will trade sub 5100 and take support around 5070 level,the market followed the same today.
                                      Currently the markets are trading below the 20 and 40 DMA levels opening  bearish alternatives for short term,since the 200 DMA is respected yet panic selling is capped.The charts are turning bearish day by day,but since the markets have taken support of 5070 level  and keeping in  view the expiry in feel markets to trade sideways.
                                                             I feel that market may end in green on expiry

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DOJI

Nifty witnessed an absolutely sedate session,the bias looked positive but lacked momentum . The broader market was negative with 665 advances to 808 advances.The rally seemed to take a halt for a day before continuing further.i feel that the rally would take the markets to 5470-5500 before correction.since we are lacing fundamentally the longevity of this rally cannot be counted on.                                                                                                       On the hourly charts we are making higher highs and higher lows keeping the momentum intact,still as advocated a burst of 40-60 points on the nifty is still pending before correction ,i feel this might come tomorrow.Hence adding nothing more to i...
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